HB 1307: Citizens Property Insurance Corporation
GENERAL BILL by Raulerson
Citizens Property Insurance Corporation; Revises definition of term "covered policy"; exempts additional specified activities of corporation from certain requirements; revises requirements relating to quota share primary insurance agreements; requires corporation's plan of operation to adopt program that facilitates removal of certain residential risks; specifies limitations on participation in such program; deletes & revises related terms; provides that entering into specified agreements is at discretion of insurer; provides that if corporation is reinsurer, all forms & endorsements must be approved by OIR; prohibits corporation from sharing risk for certain damages; requires corporation & each insurer to report additional information to fund & requires SBA to adopt rules to administer such requirement; revises procedures for determining whether risk is eligible for corporation.
Last Action: 4/28/2015 House - Died in Insurance and Banking Subcommittee
Bill Text: PDF
HB 1307, Original Filed Version (Current Bill Version) Posted 3/3/2015 at 11:47 AM
Bill Text: Analyses: None
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 936 Citizens Property Insurance Corporation Brandes Identical Last Action: 5/1/2015 S Died in Banking and Insurance
Location: In committee/council (BI)
Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 215.555 Florida Hurricane Catastrophe Fund. Page 2 (pdf) 626.752 Exchange of business. Page 4 (pdf) 627.351 Insurance risk apportionment plans. Page 4 (pdf)
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